Latest Business News Wires - Business Headlines


  • ALGIERS, Oct 26- Algeria's Sonatrach has made a new oilfield discovery with estimated reserves of 1.3 billion barrels in the region of Tamguid Messaoud near Ouargla city, APS state news agency said on Saturday.

  • U.S. website offers morbid glimpse into home's history Saturday, 26 Oct 2013 | 9:00 AM ET

    Oct 26- Home buyers, ghost hunters and the morbidly curious have flocked to a U.S. website designed to reveal whether a dwelling they feel may be haunted actually harbors a deadly past. Launched in June by Roy Condrey, 42, a software developer who also owns rental properties, the DiedInHouse.com site can show users- for a fee- if and when a death has occurred in a home.

  • China leader promises 'unprecedented' reforms Saturday, 26 Oct 2013 | 7:57 AM ET
    A policeman patrols under a giant communist emblem on the Tiananmen Square on June 28, 2011 in Beijing, China.

    A top Chinese leader has promised "unprecedented" economic and societal reforms at the Communist Party's plenum meeting next month, state media reported on Saturday.

  • WASHINGTON, Oct 26- President Barack Obama promised on Saturday that his troubled healthcare website was just weeks away from a cure as he struggled to convince Americans he is on top of what has become a self-inflicted wound to his signature first-term achievement.

  • BEIJING, Oct 26- A top Chinese leader has promised "unprecedented" economic and societal reforms at the Communist Party's much anticipated plenum meeting next month, state media reported on Saturday. Yu's comments are among the first from China's top leaders about the plenum, where President Xi Jinping is expected to press for greater economic reforms.

  • SALMON, Idaho, Oct 25- A General Electric Co subsidiary has dropped its appeal of a federal court order barring a massive shipment of tar sands oil-field equipment from being trucked along a scenic Idaho roadway that cuts through the Indian homelands of the Nez Perce Tribe.

  • RIO DE JANEIRO, Oct 25- Brazil's state-run oil company, Petrobras, said on Friday that quarterly profit fell 39 percent from a year ago as rising exploration and administrative costs drove up spending while fuel subsidies and weak production growth hurt revenue.

  • FRANKFURT, Oct 25- Germany's ThyssenKrupp could seek a partner to set up steel processing in Brazil if it fails to sell its steel mill in the Latin American country, the Wall Street Journal Deutschland reported, citing sources.

  • DETROIT, Oct 25- Detroit Emergency Manager Kevyn Orr did not speak about filing for Chapter 9 municipal bankruptcy in his first meetings with Michigan state officials before he was named to his post, according to testimony he delivered on the third day of the city's bankruptcy eligibility trial.

  • WASHINGTON, Oct 25- Errors in the maintenance paperwork used to track readiness of the U.S. Marine Corps V-22 aircraft were so numerous between 2008 and 2011 they could have led officers to deploy squadrons that were unprepared for their missions, investigators reported on Friday.

  • WASHINGTON, Oct 25- A proposal that would require stock exchanges to be better equipped to handle market disruptions does not go far enough to hold senior officials accountable for failures, Securities and Exchange Commission member Luis Aguilar said on Friday. The SEC proposed in March the "Regulation Systems Compliance and Integrity," or Reg SCI.

  • Frank Kendall, undersecretary of defense for acquisition, technology and logistics, is asking the Pentagon office that runs the $392 billion F-35 program to map out how it will ensure the quality, reliability and maintainability of the new warplanes as production ramps up in coming years, said the officials, who were not authorized to speak publicly.

  • Oct 25- Todd Park has gone from steering his healthcare information technology company through a blockbuster IPO to occasionally sleeping on a mat in his office while working to repair the troubled new U.S. government healthcare website.

  • NEW YORK, Oct 25- The Federal Reserve meeting next week is not on the minds of as many people as when it met in September, but its decision to do nothing last month is providing the fuel for more share gains in Apple and Facebook, which report results next week.

  • CHICAGO, Oct 25- Soren Schroder is shaking up Bunge Ltd five months after taking the helm of the 195- year-old agricultural trading house. On Thursday, Schroder told a quarterly earnings call that the status quo was unacceptable for Bunge's loss-making Brazilian sugar milling business and that he will explore options, including a sale, for the business.

  • Oct 25- JPMorgan Chase& Co and the regulator of Fannie Mae and Freddie Mac on Friday said the bank agreed to pay $5.1 billion to settle claims that it and firms it bought misled the housing finance agencies about the quality of mortgage securities and home loans it sold them during the housing boom.

  • CHICAGO, Oct 25- Harvesting the largest U.S. corn crop on record and transporting it on railroads and rivers to markets here and abroad is driving up costs for rail cars, barges and trucks in the world's top crop producer and exporter.

  • Oct 25- Fannie Mae and Freddie Mac on Friday said they will terminate their traditional employee pension plans by the end of the year, at the direction of the regulator of the government-controlled mortgage companies.

  • NEW YORK, Oct 25- Gold closed flat on Friday, concluding a second week of strong gains as investors bet that continuing U.S. economic stimulus from the Federal Reserve will keep drawing funds into the precious metal, but copper slid, hitting a two-week bottom as demand outlook for the base metal eroded.

  • CHICAGO, Oct 25- Illinois's Teachers' Retirement System, the state's biggest public pension fund, said on Friday that its unfunded liability grew by 7 percent in the latest fiscal year even as investment returns jumped, driven by chronic underfunding by the state.

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